CMC President and CEO Barbara Smith says in a press release announcing the financial results that the company’s Americas Recycling segment had the highest quarterly results since 2012. This was supported by rising nonferrous pricing and a continued strong demand for ferrous material, Smith reports.

She adds that the Polish operations recorded the highest quarterly profits since 2008.

The net earnings reported for Q1 of fiscal 2018 compare with net earnings of $6.3 million, or 5 cents per diluted share, on net sales of $1 billion for the first quarter of fiscal 2017. Earnings from continuing operations were $38.5 million for the first quarter of fiscal 2018 compared with $4.9 million for the same period of fiscal year 2017. For the three months ended Nov. 30, 2017, earnings from continuing operations included a net after-tax benefit of $1.8 million, or 2 cents per diluted share, related to the exit of the International Marketing and Distribution segment.

Because of the Aug. 31, 2017, sale of CMC Cometals, the results of this division have been reflected as discontinued operations for all reported periods, according to the company. CMC sold its Cometals division to the Traxys Group, a Luxembourg-based physical commodity trader and merchant in the metals and natural resources sectors. The business markets, distributes and processes metal, ores, concentrates, industrial minerals, ferroalloys, chemicals and industrial products worldwide.

CMC says its liquidity position at Nov. 30, 2017, remained strong, with cash and cash equivalents of $130.2 million and availability under the company’s credit and accounts receivables sales facilities of approximately $617.5 million.

CMC President and CEO Barbara Smith says, “We delivered strong financial results during our first fiscal quarter of 2018. In both the Americas Mills and International Mill segments, demand from the construction sector remained robust, which resulted in very good earnings. In fact, the Polish operations recorded the highest quarterly profits since 2008. The Americas Recycling segment also had the highest quarterly results since 2012, supported by rising nonferrous pricing and a continued strong demand for ferrous material.”

Jan. 2, 2018, the board of directors of CMC declared a quarterly dividend of 12 cents per share for shareholders of record Jan. 16, 2018. The dividend will be paid Jan. 31, 2018. This cash dividend reflects CMC’s 213th consecutive quarterly dividend.

The company’s Americas Recycling segment recorded adjusted operating profit of $9.9 million for the first quarter of fiscal 2018 compared with an adjusted operating loss of $5.1 million for the first quarter of fiscal 2017. The improvement in adjusted operating profit compared with the same period in fiscal 2017 was primarily the result of strong volumes and nonferrous prices, which rose during the quarter. Shipment volumes in comparison to the same period of the prior fiscal year increased by 44 percent as a result of higher domestic steel manufacturing utilization rates and the impact of the acquisition of yards completed during fiscal 2017.

CMC says its Americas Mills segment recorded adjusted operating profit of $40.8 million for the first quarter of fiscal 2018 compared with adjusted operating profit of $36.9 million for the corresponding period in fiscal 2017.

“We had a strong shipping quarter as nonresidential construction activity remains high,” says CMC. “While metal margins were relatively flat in comparison to the same period in the prior fiscal year, they increased for the second consecutive fiscal quarter and were $14 per ton higher than the fourth quarter of fiscal 2017.”

Its Americas Fabrication segment recorded an adjusted operating loss of $4.8 million for the first quarter of fiscal 2018 compared with adjusted operating profit of $6.7 million for the first quarter of fiscal 2017. The average selling price for the Americas Fabrication segment was similar to the same period of fiscal year 2017; however, raw material rebar prices have increased resulting in the losses suffered during the recent quarters. The company reports that it is experiencing strong bidding activity for fabrication work, “but strong competitive pressures and the availability of low-cost import material have not provided a market dynamic for the increased raw material costs to be passed on to customers in the form of increased selling prices.”

CMC’s International Mill segment in Poland recorded adjusted operating profit of $23.4 million for the first quarter of fiscal 2018 compared with adjusted operating profit of $10 million for the corresponding period in fiscal 2017. Shipments from this operation increased by approximately 27 percent in comparison to the same period of the prior fiscal year, supported by continued strength in construction activity in this market, which also has resulted in improved margins.

Smith says, “During our second quarter we normally experience lower shipment levels due to winter weather conditions impairing construction activity as well as a reduced number of shipping days. However, we see strength in the underlying market fundamentals supporting each of our segments as we enter calendar 2018. End markets in both nonresidential construction and original equipment manufacturers are forecasting growth, and we are seeing that reflected in our shipment volumes.”

“This is an exciting time for Commercial Metals Co.,” Smith continues. “We are pleased to report that commissioning activities at our new micromill in Durant, Oklahoma, are progressing very smoothly, and we look forward to the mill contributing to our results during the second half of fiscal 2018. In addition, [Jan. 2], we announced the signing of a definitive agreement to acquire certain U.S. rebar assets from Gerdau S.A., including four minimills and 33 rebar fabrication facilities. We believe this is an ideal strategic fit with CMC given our existing expertise in concrete reinforcing products and services. We see significant opportunity for cost synergies and value creation for our customers and shareholders.”

CMC and its subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network including four electric arc furnace (EAF) minimills, an EAF micromill, a rerolling mill, steel fabrication and processing plants, construction-related product warehouses, metal recycling facilities and marketing and distribution offices in the United States and in several international markets.

TerraCycle, HNA Hospitality Group partner for zero waste campaign

Tangla Hotel Beijing

Chinese hotel operator HNA Hospitality Group has achieved initial success with its new zero waste campaign, a partnership with Trenton, New Jersey-based TerraCycle, by recycling 1,323 pounds’ (600 kilograms’) worth of discarded toiletries from three company hotels in four months.

TerraCycle is a leader in the collection and repurposing of hard-to-recycle postconsumer materials.

From July 24 to Nov. 30, 2017, HNA Hospitality collected used cotton swabs, shower caps, shaving kits, bath supplies, toothbrushes and other waste from the three Tangla hotels and recycled them into resalable products, “eliminating the pollution that would have come as a result of discarding them and purchasing replacement items,” the company says.

“We are extremely pleased with the results from this first phase of our zero-waste program,” Steven Song, president of HNA Hospitality, says. “Thanks to our partnership with TerraCycle and the diligence of the staff at our Tangla brand hotels, we were able to prevent a significant amount of waste from entering the environment. This program, along with our recent improvements in food and water safety at all of our hotels, is further evidence of our brand’s excellence and proof of our commitment to providing a comfortable, convenient and safe stay for all of our guests.”

The company notes that the zero waste campaign is its most recent CSR effort. Since 2013, the group has implemented a series of measures, such as increased recycling and adopting sustainable design and construction, to reduce the carbon footprint of its hotels, whose energy consumption rate has dropped considerably for four consecutive years, according to the company.

HNA says it plans to expand the zero waste program to more of its hotel in the coming months.

“We will continue to explore new approaches and adopt new techniques to help lower costs and make our services more environmentally-friendly,” says Song. “We look forward to building wide awareness of our brand as one that is seen as a pioneer of sustainable hotels in China and around the world.”

Founded in 1997, HNA Hospitality Group is the hotel investment and management arm of HNA Tourism that is focused on creating a mid- to high-end global hotel network. HNA Hospitality Group says it is China’s largest private hotel group. The group operates or invests in about 8,600 hotels with more than 1.3 million rooms around the world.

Aleris signs multiyear contract with Embraer

Cleveland-based aluminum rolled products company Aleris has signed a multiyear contract with Brazil-based airplane manufacturer Embraer to supply aluminum flat-rolled products for use in Embraer aircraft. The renewed contract agreement includes the supply of what Aleris calls technically advanced alloys and extends the portfolio of products for different applications.

“Our continued investment in growing our technical capabilities has enabled us to further expand our relationship with Embraer, and we look forward to working with them to achieve their aircraft manufacturing and design goals,” says Sean Stack, Aleris chairman and CEO. “With a world-class aerospace aluminum plate facility in Asia Pacific, we are also uniquely positioned to help them meet aerospace demand in the region, which is projected to experience the most significant growth.”

The contract includes the supply of material from the company's facilities in Koblenz, Germany, and Zhenjiang, China, the latter of which represents a greenfield project Aleris opened in 2013.

Sponsored by the CTA, the owner and organizer of CES, and Samsung, this recycling event is free to the public and will allow visitors to properly dispose of unwanted electronics in an environmentally responsible way, says ERI.

The collection event runs from 9 a.m. to 1 p.m. Saturday, Jan. 6, at the Salvation Army Family Store drop-off location on 2035 Yale St. in North Las Vegas. Accepted items include computer equipment, televisions and mobile devices.

For this manufacturing take-back program, ERI says it will responsibly and securely recycle all e-scrap collected, destroying all data from electronic devices in the process. Las Vegas residents and CES attendees are welcome to drop off unwanted consumer electronics.

“It is an honor to serve as the official recycler for many of the largest companies at CES, truly, the world’s premier electronics industry event,” says John Shegerian, co-founder and executive chairman of ERI. “The work we will be doing this weekend to prevent unwanted electronics from ending up in landfills, and partnering with forward-thinking, environmentally concerned organizations like our good friends at Samsung and CTA exemplifies what can be accomplished when great organizations pool their resources for the common good.”

Mark Newton, head of environmental, regulatory affairs and sustainability at Samsung Electronics America, says, “We’re committed to educating consumers on how to safely manage electronic waste and are offering free and convenient recycling opportunities such as this one as part of our Samsung Re+ program. As one of the world’s biggest recyclers of e-waste, we understand the significance of responsible recycling and the positive impact events like these have for our environment.”

Walter Alcorn, vice president for environmental affairs and industry sustainability at CTA, says the association is proud that this partnership will help to recycle old electronics.

“CES 2018, the global stage for innovation, will feature more than 3,900 exhibiting companies unveiling technologies that will change our lives for the better,” says Alcorn. “These products are becoming lighter than ever, using fewer materials and requiring less energy. We’re proud that Samsung and ERI are here helping consumers recycle their older products through this community recycling event.”

ERI bills itself as the nation’s leading recycler of electronic scrap and the world’s largest information technology asset disposition (ITAD) and cybersecurity-focused hardware destruction company. It is certified to demanufacture and recycle every type of e-scrap in an environmentally responsible manner. ERI processes more than 275 million pounds of electronic waste annually at eight locations.

Eriez launches new website

Erie, Pennsylvania-based Eriez, a leader in separation technologies, announces the launch of its redesigned and mobile-friendly website, www.eriez.com. The updated website offers improved functionality and easier navigation to provide users with a more intuitive experience, the company says.

Visitors can quickly find solutions to their toughest processing challenges with the ability to navigate through the site by product or industry. They can also explore Eriez's resources, which include equipment brochures and manuals, videos, feature articles and more. An improved search function ensures the information visitors seek is right at their fingertips, according to the company.

“The Eriez team collaborated with some of our top customers and sales representatives to gather their feedback on how to deliver a better, more user-friendly experience,” Eriez Director of Corporate Marketing Communications John Blicha says. “We believe our new website positions us well as we continue to grow and increase our global market presence in the diverse industries we serve.”